Highbridge Honcho Makes Solo Debut

Ron Resnick, a 13-plus year veteran of hedge fund giant Highbridge Capital Management, has left to start AlphaWorks.

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Ron Resnick, a 13-plus year veteran of hedge fund giant Highbridge Capital Management, has left to start AlphaWorks. He is seeking $10 million in equity investment to be used for operating capital for the management company. The plan is to eventually raise $100 million in seed capital for two-three different hedge fund strategies, said Resnick.

Resnick will hire portfolio managers to run the strategies and build a fund around each approach. He also plans to create a multi-strategy fund to encompass all the strategies. The particular strategies have not been selected yet, but as the firm gets closer to obtaining operating capital, it will finalize its plans, Resnick told AIN.

AlphaWorks will initially have an office in New York, but the plan is to also have a presence Los Angeles. The West Coast outpost is designed to offer investment professionals the option of living on either coast, said Resnick.

Resnick was a managing partner, chief administrative officer and a member of the board of managers at Highbridge, which is run by well-known managers Glenn Dubin and Henry Swieca. The firm is majority owned by JPMorgan Asset Management.